Panasonic and Jasmy’s Collaborative IoT Identity Platform

Panasonic, a leading technology company, has joined forces with Jasmy to introduce a Web3 platform that connects personal data on the Internet-of-Things (IoT). This collaboration between IoT platform developer Jasmy and Panasonic Advanced Technology began in February and was officially announced on March 26. The main objective of this new platform is to provide secure data storage and empower users with control over their data access. It seeks to improve processing and reaction times. The platform will utilize agile development methods and prioritize speed, aiming to become an open platform widely used across various fields.

Hiroshi Harada, the chief financial officer of Jasmy (also known as Hara on social media), stated that the development of the new platform is expected to be completed within 3 to 6 months. The Jasmy website explains that their Personal Data Locker uses blockchain technology to manage hash values, while the data files themselves are stored in a decentralized network. This unique approach ensures that the storage capacity of blocks and large file sizes does not hinder performance.

Jasmy, established in 2016 by former Sony executives, introduced JasmyCoin (JASMY) to exchanges in 2021. It is often referred to as “Japan’s Bitcoin.” Merchants pay Jasmy to access the data stored within their platform, and users are rewarded with JASMY tokens as data owners. Earlier this month, Jasmy announced the launch of its DePIN project, called Janction, which aims to create a GPU colony and establish a public layer-2 and AI service hub.

The news of this collaboration has had a significant impact on JASMY trading. Within 24 hours, its value rose by 111%, reaching a high of $0.024 on March 26, compared to the previous day’s value of $0.021. With a current market capitalization of $1.1 billion, JASMY continues to attract attention and gain momentum in the market.

Sandy Mozingo

Sandy Mozingo

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